Increase their taxes by 0.1% (and up to 0.6%) for excessive compensation. Nice work San Francisco. That'll show 'em!
www.nbcnews.com
Good to see that City actually doesn't have any interest in tackling excessive executive comp, because that's the most ridiculously lax "answer" to a problem they've been consistently yelling about for years. If this is the most stringent penalty you can come up with, you probably don't really care to tackle it. Also, probably means their "principles" only go so far, and they aren't willing to push the envelope and lose companies to other cities.
I love policies like this, that have very little financial ramifications on anyone, and are meant to just placate people screaming about an issue.
San Francisco passes 'Overpaid Executive Tax'
The new law adds a 0.1 percent tax on companies whose executives earn 100 times more than the average worker.
www.nbcnews.com
Good to see that City actually doesn't have any interest in tackling excessive executive comp, because that's the most ridiculously lax "answer" to a problem they've been consistently yelling about for years. If this is the most stringent penalty you can come up with, you probably don't really care to tackle it. Also, probably means their "principles" only go so far, and they aren't willing to push the envelope and lose companies to other cities.
I love policies like this, that have very little financial ramifications on anyone, and are meant to just placate people screaming about an issue.
